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community development

community development

  • Your team is provided with the adopted budget, as well as the preclosing trial balance, of the revenues and expenditures subsidiary ledgers at year-end.
    • Download the adopted budget and preclosing trial balance here.
    • Note that the only encumbrances outstanding at year-end were $15,000 for unperformed contracts in community development.
    • The beginning fund balance was $75,000.
  • Prepare the closing entries for the general ledger accounts and the subsidiary ledgers of the Village of AIU general fund.
  • Prepare the statement of revenues, expenditures, and changes in fund balance—budget and actual—for the Village of AIU General Fund for the 20X9 fiscal year.
  • Work as a team to define an approach for producing the deliverables for this assignment.
  • Assign individual work to each team member.

Deliverable Length:  2–3 pages

Please add your file.

Group Portion

  • As individual work is completed, meet as a team to discuss and review the individual deliverables to ensure that they are correct before submitting the group document.
  • Work as a team to decide how to assemble and submit the final deliverables.

Please add your file.

Grading CriteriaPrepare the closing entries.32%Prepare the statement of revenues, expenditures, and changes in fund balance—budget and actual.48%You will be graded on your ability to work as a team, as evidenced from postings in the group project Discussion Board.10%Use proper formatting for the assignment and references.10%

For assistance with your assignment, please use your text, Web resources, and all course materials.

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